Business

Red Lobster, a once-popular seafood chain, has recently filed for Chapter 11 bankruptcy protection, signaling a significant decline in its business operations. The company has faced challenges such as a bloated and underperforming restaurant footprint, failed strategic initiatives, and increased competition within the industry. These factors have contributed to the need for Red Lobster to

Media giants in the entertainment industry have historically relied on scripted shows and blockbuster movies to attract advertisers during the annual Upfront meetings. However, a noticeable shift occurred last year, and it continued this year, with a more prominent focus on sports content. The aftermath of Hollywood strikes and cost-cutting measures affected the availability of

Recently, Mercedes-Benz workers in Alabama made a decision that is sure to have long-lasting effects on union representation in the workplace. The National Labor Relations Board announced that the workers had voted against union representation by the United Auto Workers (UAW). This decision dealt a significant blow to the UAW’s efforts to organize the workers

Walmart, one of the largest discount retailers in the United States, reported better-than-expected quarterly earnings and revenue results. The company’s success can be attributed to its significant gains in e-commerce, profitability from newer ventures like advertising, and the ability to attract high-income shoppers. Chief Financial Officer John David Rainey revealed that Walmart’s grocery business has

Netflix announced that its cheaper, ad-supported tier has seen a significant increase in global monthly active users, reaching 40 million. This growth is nearly double the figure shared by the streaming giant earlier in the year. Along with this milestone, the company revealed its plans to launch its own advertising platform and move away from

AMC Entertainment has recently experienced a surge in its stock price, driven by the return of “Roaring Kitty” – also known as Keith Gill. This surge has led to speculation about the potential for AMC to alleviate its significant debt load. CEO Adam Aron’s strategic acquisitions in 2015, including Carmike, Odeon, and Nordic theater chains,

Novavax experienced a significant boost in its shares, rising by as much as 50% after announcing a groundbreaking multibillion-dollar deal with French pharmaceutical company Sanofi. This partnership not only propelled Novavax’s stock to almost double its value but also paved the way for the company to eliminate its previous “going concern” warning, signaling a promising

The restaurant industry has faced numerous challenges over the past few years, with sales slumping and traffic declining as a result of customers cutting back on their spending. However, certain chains like Chipotle Mexican Grill, Wingstop, and Sweetgreen have managed to report strong sales this quarter, largely due to the patronage of high-income consumers. High-income

McDonald’s is looking to introduce a new $5 value meal in their U.S. stores, as reported by CNBC. This value meal is said to include four items: a choice of McChicken or McDouble sandwich, four-piece chicken nuggets, fries, and a drink. The move comes as fast-food chains face an increasingly challenging environment with consumers cutting

Moderna, a biotech company, recently announced that the Food and Drug Administration (FDA) has pushed back the approval of its vaccine for respiratory syncytial virus (RSV) to the end of May. The delay was attributed to “administrative constraints” at the agency. The decision on the RSV shot was initially expected to be made on Sunday.